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Indirect Taxation
1) if a person is unreg, then he is not paying tax Is it same as supplying & doing transaction of exempted goods ? 2) why 18(1)(a) & (b) donâ??t giv proportionate credit on capital goods like 18(1)(c) & (d) ?
Answers (10)
Kamal Kumar
For qn 1 Yes, Unregistered means he is not liable under taxable and exempted supplies For qn 2 can u elaborate it?
In sec 18(1)(a) and 18(1)(b) credit is given on inputs and not in capital goods, like its given in 18(1)(c) and 18(1)(d) Why is it so ?
Thread Starter
Sushmita ChowdhuryIn sec 18(1)(a) and 18(1)(b) credit is given on inputs and not in capital goods, like its given in 18(1)(c) and 18(1)(d) Why is it so ?
18(1)a &18(1)b- U are come to register so Law restricts input upto stock but not CG 18(1)c&18(d)- U r already registered but certain conditions Like changing schemes or exempt becomes taxable -Law allow u to take credit on CG and also with certain provisions.
Kamal Kumar
18(1)a &18(1)b- U are come to register so Law restricts input upto stock but not CG 18(1)c&18(d)- U r already registered but certain conditions Like changing schemes or exempt becomes taxable -Law allow u to take credit on CG and also with certain provisions.
Why is credit not given in capital goods, in 18(1)(a) and 18(1)(b)
CA Suraj Lakhotia Admin
Its not doing transactions for exempt goods
Why is credit is not given in capital goods in 18(1)(a) and 18(1)(b) Cause theyâ??re also used in the course of business
Thread Starter
Sushmita ChowdhuryWhy is credit is not given in capital goods in 18(1)(a) and 18(1)(b) Cause theyâ??re also used in the course of business
That is the benefit of registration for which law allows.
Kamal Kumar
That is the benefit of registration for which law allows.
How not giving credit in capital goods benefit registration?
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